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Analysis from Terrain economist Ben Laine projects Class III milk averaging $17 per hundredweight and Class IV near $19.50 in the second quarter. Prices have strengthened early in 2026 on gains in whey and nonfat dry milk, despite a global milk oversupply.
U.S. output rose 2.8% in 2025 and January production was up 3.4% year over year.
Rising milk supply and capacity constraints such as dumping in California point to continued pressure on dairy byproduct values, while strong protein demand supports whey and nonfat dry milk. Expected volatility makes dairy-based feed ingredient pricing harder to hedge.
rfdtv.comTony St. JamesMar 27, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Analyst outlook of Class III near $17 in Q2 on stronger whey and NFDM supports bullish sentiment and upward price expectations.
